"But a solution to its $300m problem is still unclear"Originally Posted by sb9
http://nzx-prod-s7fsd7f98s.s3-websit...758/306172.pdf
The issue I have with the integrity of management, (and something they "very conveniently" leave out of their background commentary in this announcement) so I will highlight it in the customary Synlait way), SYLAIT STARTED BUILDING THE FACILITY IN FULL KNOWLEDGE THAT THE WHOLE MATTER WAS UNDER APPEAL BY THE AGRREVIED PARTY In my view this amounts to GROSS RECKLESSNESS
In my view the gross recklessness of Synlait's board and management is what created this problem. The mind boggles on how you could trust them to look after shareholders interests properly going forward. Its almost as bad as some of the decisions Fonterror's board have made and that's REALLY saying something !
They can report almost any profit they like later this week as far as I am concerned its almost irrelevant when there's a $300m+ problem hanging over shareholders heads.
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